This glossary defines key terms used across the Kanexa platform and Support site, covering Open Account programs, Purchase Orders, Invoices, Matching, Payments, Logistics, and more. Select a letter to jump to that section.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
A
Accounts Payable (AP)
Money a business owes for goods or services.
Adjusted Amount
The value of an Invoice after accounting for adjustments excluding Matching Fees.
Adjustment
A credit or debit amount added to a Purchase Order or Invoice. Adjustments have a type (debit or credit), an amount, and a reason chosen from a preset list. Adjustments applied to a Purchase Order automatically carry over to related Invoices once approved.
Adjustment Reason
Describes why an adjustment has been applied, e.g. late shipment, debit balance, etc.. Adjustments reasons are defined on an Open Account program by the buyer.
Advanced Shipment Notice (ASN)
A logistics artefact sent by a shipper or LSP to a receiving party describing a shipment and when it is expected to arrive.
Amount
A sum of money.
Approval Date
The date an invoice is approved.
APPROVED
An invoice status applied on approval, either manual or automatic.
Artefact
A kind of document e.g. Purchase Order, Invoice, Bill of Lading, etc.
Attachment
A file added to a Purchase Order, Invoice, or Logistics document. Supported formats are JPG, JPEG, PNG, TIFF, PDF, DOC, and DOCX, up to 16MB per file. Multiple attachments are allowed per document.
Authentication
The process or action of verifying the identity of a user or process. Users are authenticated when they log into Kanexa.
Automatic Adjustment
An adjustment that is applied automatically by Kanexa to an invoice when it is approved. Buyers configure Automatic Adjustments on an Open Account program.
Available quantity
The quantity of a Purchase Order line item that is available to be consumed by an Invoice on it approval.
B
Bank
A financial institution licensed to receive deposits and make loans. Banks facilitate payments between buyers and suppliers.
Bank Account
An arrangement between two parties where by one (the bank) allows another (the customer) to deposit and withdraw money.
Beneficiary
For an invoice, the beneficiary is the party that receives the maturity payment. On an Open Account program this is the supplier that issues the invoice.
Bill of Lading (BOL)
It is a legal document issued by a carrier to a shipper acknowledging receipt of goods for a shipment and detailing the terms of their transport.
Business Day
A day on which business is done, typically weekdays from Monday to Friday. Some banks only process payments on business days.
Buyer
An organization that sends Purchase Orders to suppliers and pays the invoices issued in response. A buyer can own a Kanexa Open Account program.
Buyer Reference
An identifier specified and used by a Buyer to group or categorize their Purchase Orders.
C
Calendar
A representation of the days in a year or some other time period organized into weeks and months. A Calendar is: Defines days as Business and Non Business days Used to determine when payments are actually made.
CANCELLED
A status of a Purchase Order, Invoice or Logistics documents that indicates the record will not be processed further.
Certificate of Origin
A Certificate of Origin is a document that certifies that goods in a particular shipment are wholly obtained, produced, manufactured and/or processed in a particular country. Certificates of Origin are needed to satisfy customs and/or trade requirements.
CLOSED
A status of a Logistics documents set automatically when all its line items are linked to Invoices that are APPROVED, REJECTED or CANCELLED.
Conditional Automatic Adjustment (CAA)
An adjustment that is automatically applied to an invoice when it is approved if it breaks a specific matching rule.
Consignee
The person or organization designated to receive a shipment of goods. On a logistics document the consignee is the buyer.
Consignor
The person or organization that sends a shipment of goods. On a Logistics document in Kanexa the consignor is the supplier.
Consumed Amount
For a Purchase Order Line Item
Consumed Amount = Consumed Quantity * Unit Price for that line item.
For a Purchase Order
Consumed Amount = SUM of Consumed Amount for all line items.
Consumed Quantity
A Purchase Order (PO) line item's quantity is consumed when it is allocated to one or more approved invoice line items. Once an invoice is approved, the quantity on each invoice line item is deducted from the available quantity of the associated PO line item. This allocation is permanent and cannot be reassigned to another invoice line item.
A PO line item is fully consumed when all of its quantity has been allocated.
A PO line item is partially consumed when only part of its quantity has been allocated. The remaining unallocated quantity is called the Available Quantity, as it can still be allocated to future approved invoice line items.
Corporate
An organization that is not a bank.
Country
A nation with its own government.
CREATED
A payment status applied when a payment record is created. A payment remains in he created state until an instruction is accepted or rejected by the bank.
Currency
A medium of exchange for goods and services typically issued by a government e.g. United States Dollar USD.
CUSIP
Committee on Uniform Securities Identification Procedures
CUSIP Number
A CUSIP Number is an identifier issued by the Committee on Uniform Securities Identification Procedures for US financial instruments including: stocks of all registered U.S. and Canadian companies, commercial paper, and U.S. government and municipal bonds. A CUSIP consists of 9 digits e.g. 973091872 A CUSIP Number is often referred to as a CUSIP.
D
Debit
A Debit is a kind of Adjustment which can be applied to an purchase order or an invoice. When a Debit is applied to a Purchase Order it is applied to the first approved invoice related to that Purchase Order. The Debit amount is deducted from the Maturity Payment made to the Supplier who issued the invoice.
Decimal Precision
Decimal precision is the number of digits in a base 10 number that appear to the right of the decimal place. The number 54.321 has a decimal precision of 3.
Discrepancy
Is a matching rule that has not been satisfied.
DISCREPANT
A matching status applied to an Invoice when at least one matching rule is not satisfied. A discrepant Invoice can be Accepted or Rejected by the buyer.
E
EIN
European Identification Number. A unique identifier for an individual or organization within Europe.
ERP System
A software system used for Enterprise Resource Planning.
EXTERNAL
An invoice status that indicates the invoice is being managed by an external party outside Kanexa and may be funded/paid early. An invoice can not be amended and adjustments can not be applied while it has the status EXTERNAL.
External Entity
Any legal person or organization that is not within the Kanexa network.
F
FCR
Forwarder Cargo Receipt, a type of logistics document.
Fee
A charge made, typically in return for a service. For example, Matching Fees are charged to the Supplier by Kanexa or each invoice that is Approved on an Open Account Program. Fees can be charged by Program Owners to Suppliers.
Forwarder Cargo Receipt
A document issued by a freight forwarder or freight consolidator acknowledging receipt of goods from a Supplier.
Free On Board (FOB)
A term used in international trade that defines when responsibility for goods transfer from the seller to the buyer.
FULFILLED
A status applied to a Purchase Order when at least one of its line items has been fully consumed and the others are either fully consumed or cancelled.
I
Incoterms
Incoterms are an internationally recognized set of rules that define the responsibilities of buyers and suppliers that include customs and logistical activities.
Inspection Certificate
An inspection certificate is a document that certifies that goods have been inspected and conform with the terms of the relevant contract.
Interest
Interest is money earned or charged for lending or borrowing money. Interest is usually charged on the basis a percentage rate.
Interest Days
The number of days in the year for the purposes of the APR interest rate calculation e.g. 360, 365 etc. Interest Days is set in a Program as part of the Pricing configuration. Sometimes called the Day Count Convention.
Interest Payment
A payment made by a Lender to a Borrower as Interest on a Loan.
Interest Type
The Interest Type determines how the Interest payments on a Loan are calculated. There are two kinds of Interest Type, Fixed Rate and Floating Rate.
Intermediary
An organization that sits between buyers and suppliers coordinating the sourcing and logistics of goods.
Interpolation
The calculation of interest for an non standard tenor using a rate that is derived from two reference rates for standard tenors.
Invoice
It is a commercial document issued by a Supplier to a Buyer in response to a Purchase Order as a request for payment. An Invoice includes an itemised list of products and/or services provided by the Supplier. An invoice includes at least:
1- A unique identifier
2- The total cost of the invoice
3- One line item
Invoice Amount
The total value of an invoice before accounting for adjustments and matching fees.
Invoice Flip
Involves generating a logistics artefact from an invoice.
Invoice Line Item
A single entry on an invoice that details one specific product, its unit price and the quantity.
Invoice Net Amount
The amount a supplier will be paid at maturity for an invoice, after accounting for discounts, adjustments, and matching fees.
Invoice Payment Due Date Calculation Method (IPDDCM)
When an Invoice is submitted to an Open Account Program without a specified Payment Due Date, the date is calculated using a method configured on the OA Program.
An Invoice Payment Due Date Calculation Method (IPDDCM) has a name and specifies:
Origin – either Invoice or a Logistics Type (e.g. Bill of Lading)
Date field – a date found in the Origin
Offset – an integer between -10 and 99
The Payment Due Date is calculated by taking the Date from the Origin, applying the Offset, and adding the Payment Terms from the Purchase Order.
Example:
An Invoice (INV) is submitted, with an IPDDCM configured as:
Origin = Invoice
Date = Approval Date
Offset = 2
The Purchase Order referenced by INV has Payment Terms = 90, and INV was approved on 2026-04-01.
Payment Due Date = 2026-04-01 + 2 + 90 = 2026-07-02
Issue Date
The date on which a Note is issued.
J
Jurisdiction
A geographic area in which some law or regulation applies, e.g. EU.
L
Line Item
A line item on a purchase order (PO) or invoice is a single entry that lists one distinct product or service. A line item typically includes:
SKU - Product identifier
Description – What the item/service is (e.g., "Wireless Keyboard")
Quantity – How many units
Unit of measure - Unit used to quantified and item, e.g. each, Kg, etc...
Unit price – Cost per single unit
Amount – Quantity × unit price
Logistic Services Provider (LSP)
An organization that provides warehouse, shipping and freight transportation services for Suppliers. Some LSPs submit invoices and logistics documents to Kanexa on behalf of suppliers.
Logistics Document
A document or digital record, that is not an Invoice, generated as part of the Logistics process and procedure, e.g. Forwarder Cargo Receipt, Bill of Lading, Certificate of Origin.
M
MATCHED
A matching status for an invoice or invoice line item indicating the Smart contract has been checked and all the matching rules are satisfied.
Matching
The process of checking the rules in the Smart contract for an invoice.
Matching Fee
A fixed Fee paid by the supplier for each approved invoice on an Open Account program.
Matching status
A status applied to an Invoice that indicates the outcome of the Smart Contract check: MATCHED or DISCREPANT. Before the Smart contract has been checked, the matching status of an Invoice is PENDING.
Maturity Date
The day/date on which an invoice should be paid by the buyer.
Maturity Payment
A payment made by the buyer to settle an invoice.
Maturity Payment Processing Days
The number of days before the Due Date after which an invoice can no longer be amended.
Maturity Payment Processing Days (MPPD)
A number of working days before maturity date that an invoice on an Open Account program is locked and changes state to Payment due. Once an invoice is locked the maturity date can't be changed and the adjustment can not be added.
Multi Factor Authentication (MFA)
Multi Factor Authentication. Is an authentication pattern that requires the use of more than one set of credentials of different kinds to verify a users identity e.g. a password. a fingerprint and a security token.
N
Net Invoice Amount
The amount of an invoice on an Open Account program that is paid to a supplier. Net invoice amount accounts for discounts, adjustments and fees.
Non Working Day
A day on which normal business operations are NOT conducted.
O
Onboarding
A process / workflow that an organization follows in order to join Kanexa. Onboarding includes:
- Verification of organization
- Capture of company details
- Verification of bank account details
- Configuration including user account set-up
- Acceptance of Terms and Conditions
OPEN
A status of a Purchase Order, Invoice or Logistics documents that indicates the record is active.
Open Account
A trading relationship between a Buyer and a Supplier:
- The Buyer submits Purchase Orders
- The Supplier submits invoices in response
- Kanexa checks the Smart contract
- Invoices that satisfy the Smart contract are marked as matched and approved.
- Invoices that DO NOT satisfy the Smart contract are marked as discrepant and can be accepted and rejected by the buyer.
- At invoice maturity, Kanexa instructs the bank to pay the supplier.
Optical Character Recognition (OCR)
The identification of text in an image and the representation of that text in an electronic record.
P
Packing List
A logistics document that describes the quantity, weight and dimensions of goods shipped.
Partial Shipment
The delivery of part of an order. For example, when a Buyer orders 100 T-shirts and the Supplier invoices for 75 the order is partially fulfilled.
Payee
The legal person who receives a payment.
Payer
The legal person who makes a payment.
Payment
A sum of money paid by one party (payer) to another (payee). A single payment may be associated with more than one invoice.
Payment Amount
The value of a payment.
Payment Created DateTime
The date and time a payment record was created in Kanexa.
PAYMENT DUE
An invoice status applied just before the invoice matures. When an invoice is PAYMENT DUE, it can not be updated and adjustments can not be applied.
Payment Due Date
The date on which an invoice is due to be paid which is always a working day for the bank.
Payment ID
A unique identifier for a Payment.
Payment Instruction
An instruction sent by Kanexa to a bank to make a payment in a pain.001 file.
Payment Instruction File (PIF)
A file that contains one or more payment instructions sent by Kanexa to a bank.
Payment Processing Days (PPD)
The number of working days before the Due Date that a payment instruction is sent.
Payment Terms
The number of days used to calculate invoice maturity date submitted in a Purchase Order.
Payment Type
The nature of a payment, e.g. matching fees or maturity payments.
PENDING
A matching status for an Invoice or invoice line item indicating some documents have not yet been submitted, e.g. Logistics.
Percentage
A percent is on hundredth of a whole. Discounts are specified as a percentage.
Precision
The number of digits in a number. The number 54321 has a precision of 5.
Principal Contact
A person at an organization (supplier) who has been designated as the main point of contact.
Program
It is a configurable arrangement that defines how the program owner collaborates with other participating organizations within Kanexa. It establishes a business workflow, such as Open Account, by specifying the participants, a Smart contract, and other configuration settings that govern how transactions are processed.
Program Owner
The participant/organization that creates and controls a program. The Program Owner of an Open Account Program is a Buyer.
Purchase Order (PO)
It is a commercial document issued by a Buyer to a Supplier requesting the purchase of specific goods in an itemized list of products.
Purchase Order Flip (PO Flip)
The creation of an Invoice from a Purchase Order.
Purchase Order Line Item
An individual entry in a Purchase Order for a particular product that includes unit price and quantity.
R
REJECTED
A matching status for an invoice or invoice line item indicating the Smart contract has been checked and at least one matching rule is not satisfied.
RETRIED
A payment status applied when an instruction has been rejected and then retried.
Rounding Convention
A rule that is applied when truncating a numeric value to a specified scale. Rounding Conventions are associated with a currency and affect how prices are manipulated and displayed.
S
SAP
A software and technology solutions provider. SAP provide a popular ERP solution.
SENT
A payment status applied when the bank has accepted an instruction for that payment.
SETTLED
A terminal Invoice status indicating that the invoice has been paid. A SETTLED invoice can be MATCHED or DISCREPANT.
Single Sign On (SSO)
A way of managing access to more than one application using the same credentials.
Smart Contract
The rules governing an Open Account program which include the matching rules used to validate Invoices.
Society for Worldwide Interbank Financial Telecommunication (SWIFT)
A global network that banks and financial institutions use to send secure information and instructions about financial transactions.
Stock Keeping Unit (SKU)
A unique identifier allocated by an organization to identify a specific product.
Supplier
An organization that agrees to supply goods and/or services in accordance with a commercial agreement with a Buyer. A Supplier is the issuer of Invoices.
Supplier Reference
An identifier or a Supplier, e.g. vendor ID, supplier name, etc.
Supply Chain Finance (SCF)
A financing arrangement that enables suppliers to receive early payment for approved invoices from a funder, while allowing buyers to pay the funder on the maturity date. This improves suppliers' cash flow without requiring buyers to shorten their payment terms.
T
Terms of Service (ToS)
A legal agreement between a service provider (Kanexa) and the organizations or people who use the service. Terms of Service define the rights and responsibilities of both sides.
U
Unit Price
The cost of a single unit of a product.
United Nations Standard Products and Services Code (UNSPSC)
A global classification system for goods and services defined by the United Nations.
User
A person that uses Kanexa.